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Powersports Business • March 2024 • 13

During an engaging panel discussion at this year ’ s AIMExpo , I had the pleasure of joining fellow industry experts to discuss how the digital user experience has transformed in TROY SNYDER recent years , and its impact on the powersports industry .

Here are the top 3 most important takeaways for dealers :

1 . THERE CONTINUES TO BE A SURGE IN CONSUMER INTEREST OF ONLINE PURCHASING

Cycle Trader conducted a survey to gauge consumers ’ interest in purchasing motorcycles online . The results found that 60 % of respondents expressed their interest in exploring this option , 31 % said they were very likely to purchase their next powersports vehicle online and 38 % said they were somewhat likely to purchase their next powersports vehicle online . The idea of buying vehicles online is not a recent phenomenon ; it has been gaining momentum in the automotive industry long before the pandemic . This industry evolution is not just a glimpse of the future , it ’ s already happening and here to stay . It is crucial to answer the desires and demands of our consumer marketplace as they embark on their next online motorcycle buying experience .

2 . MASTERING LISTING BEST PRACTICES VITAL FOR SIGHT- UNSEEN SALES

When it comes to selling a motorcycle online , understanding consumers ’ preferences will provide valuable insights into their needs for the digital retailing experience . According to Cycle Trader ’ s data , 47 % of consumers expressed a desire to personally see the unit before making a purchase . As a dealership , it is essential to provide flexibility in the digital retail process , meeting customers at their preferred stage of the journey . By giving your customers the freedom to choose , you automatically put them at ease . Utilize technology that provides consumers with the digital buyer experiences they are seeking . To meet consumers ’ preferences , provide ample photos and videos of the motorcycle to ensure trust in your advertisement .

3 . APPROACH DIGITAL RETAILING AS THE ULTIMATE SOLUTION FOR POINTS OF CONTENTION

Consumers least favorite parts of the traditional purchase process : � Pressure from dealers ( 32 %) � Negotiating purchase prices ( 33 %) � Time spent in dealerships ( 19 %) � Negotiating trade-in value ( 11 %) � Negotiating finance terms ( 5 %) Addressing aspects of the traditional purchase process that consumers dislike the most can provide valuable insights into which parts of the buying process you should prioritize transforming into digital experiences . By offering a wide range of digital tools that consumers are calling for to alleviate these pain points , you already have an edge over your competitors . Ultimately , consumers will opt for the most convenient and seamless option available to them .

Dealers can effectively address and resolve these points of contention by offering consumers the convenience of completing most , if not all , of their financing , purchase and delivery needs online . This empowers them to make informed decisions from the comfort of their own homes and at their own pace . Every detail is clearly presented , including pricing , incentives , F & I products , delivery and financing options .

The world of digital retailing is rapidly evolving , with tremendous advancements happening right now . From the simple act of browsing online to completing the entire purchase and delivery process digitally , this represents a monumental leap forward for effective and efficient sales while also driving consumer satisfaction . Dealerships now have an additional avenue for mass inventory and financing exposure , the opportunity to generate high-quality leads and financed deals , and the ability to reduce overhead costs .

This paves the way for long-term success . As a dealer , it is absolutely crucial to equip yourself with the necessary resources and tools . Are you ready to step confidently into the future of powersports sales ?

Troy Snyder brings over two decades of experience in the digital vehicle marketplace to his role as vice president of Digital Retailing at Trader Interactive . He is dedicated to creating solutions within the powersports buying and selling ecosystem .

Negotiating finance terms Negotiating trade-in value 5 % 11 %

Time spent in dealerships 19 %

Negotiating purchase prices 33 %

Pressure from dealers 32 %